This paper examines the impact of the global financial crisis on the Nigerian financial system. The paper documents extensive evidence to show that the immediate past governor of Central Bank of Nigeria was puerile in preventing the global financial crisis from having adverse effect on the Nigerian economy. As a result, the Nigerian capital market was seriously hit by the crisis. The prices of ...

A number of unsustainable trends, such as those related to climate change, biological diversity, environmental pollution, depleting fish stocks, deforestation, accumulating radioactive waste threaten people in different parts of the world and globally. In addition to this we are experiencing a financial crisis. Something appears to be seriously wrong with the mental maps of influential actors i...

During the years 1993-94 Venezuela experienced a severe banking crisis which ended up with a total of 18 commercial banks intervened by the government. Here we develop an early warning model for detecting credit related bankruptcy through discriminant functions developed on financial and macroeconomic data predating the 1993-94 crisis. A robustness test with data from 1996-2004 performed on the...

This paper examines Generalised Purchasing Power Parity (G-PPP) across three regions whose constituent countries are closely linked economically and have been affected by a financial crisis. G-PPP is particularly appropriate when interdependence is high and this is examined using the Johansen multivariate cointegration procedure. The extent of convergence towards G-PPP is assessed in the preand...

BACKGROUND It is widely acknowledged that austerity measures in the wake of the global financial crisis are starting to undermine population health results. Yet, few research studies have focused on the ways in which the financial crisis and the ensuing 'Great Recession' have affected health equity, especially through their impact on social determinants of health; neither has much attention bee...

A the many factors contributing to the financial crisis of 2007–08, the role of the growing interconnectedness of the global financial system is perhaps the least understood. The crisis exposed the fact that regulators and market participants had very limited information about the network of obligations between financial institutions. It also revealed that there was little theoretical understan...

The financial crisis of late 2008 shifted household expenditure downward, as financial institutions tightened lending standards and required repayment of outstanding consumer loans. The crisis also raised financial frictions by depleting the equity capital of financial institutions. The result was a severe reduction in business and residential investment expenditure. The zero bound on the inter...

We use a rich personnel data set from a Russian firm for the years 1997 to 2002 to extend the analysis of internal labor markets to economies in transition. Our focus is on the effect of the financial crisis in 1998 and its aftermath on wages and the welfare of workers in the firm, providing evidence of how costs are distributed inside firms during such dramatic macroeconomic upheavals. We show...

The recent global crisis, as a big crash ( Baldwin and Simon , 2009), has reduced foreign demand growth affecting total countries’ exports. Given the importance of foreign trade to nations and the reality that recent crisis has affected international trade we study the effects of the global financial crisis on trade relations between countries by using Ma and Cheng (2003) approach and by appl...